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ASX futures were up 0.18 per cent near 8:30 am AEDT, implying a green day for the bourse today.
Over the weekend we got big news, or rather, a big reaction to news: China looks set to kick off meaningful stimulus measures.
Banks in China now need to hold less in reserves in order to borrow from the Chinese central bank. In turn, iron ore finished last week up nearly 7 per cent. So did Brent Crude.
Friday US markets were mixed. The Dow and Russell ended green but the S&P 500 finished flattish in the red at -0.07 per cent; the NASDAQ was down -0.36 per cent.
Later this week we get Australia retail sales data, inflation data for Q4 2023, and a US Fed interest rate decision. No cuts are anticipated.
A lot of quarterlies today, and a lot of explorers announcing new fieldwork targets.
Here’s what stocks are catching eyes this morning:
Brazilian Critical Minerals (ASX:BCM) has posted its quarterly.
BCM was, in recent history, called BBX Minerals.
The company ended the quarter with $2.06 million in cash.
Shares last traded at 2.5 cents.
Also in the materials space, Nova Minerals (ASX:NVA) has inked a new gold prospect.
That gold prospect is located at the existing Wombat asset.
Surface samples support the gold mineralisation thesis along a 1km strike.
Shares last traded at 35 cents.
Encounter Resources (ASX:ENR) has posted news of a new target.
Called ‘Hurley & Crean,’ the company is posting news of deep carbonatites.
Assay results confirmed rare earth mineralisation in four drill holes.
Shares last traded at 27 cents.
Meanwhile, Cobre (ASX:CBE) has posted news of a new formation on its radar.
That potential coper formation, located in Botswana, is divined through airborne EM results.
The company’s geotechs see an opportunity for more shallow copper hits.
Shares last traded 6.7 cents.
And, Infini Resources (ASX:I88) has posted news of a new uranium lead.
Multiple targets have been logged at the Portland Creek asset.
Rock samples and “historic lake sediments” are being used to underpin the exploration thesis.
Shares last traded at 30.5 cents.
